Same thing happened in Australia - AUD dropped from almost parity at
96 US¢ to 60¢, despite the fact that we have similar financial
controls, a healthy economy, relatively, and banks that don't go
bust. Bloody annoying. With Aus. and RSA it's partly due to the drop
in demand for commodities like minerals as well.
This used to be called the Earthquake Tokyo scenario - the idea that
if the Japanese suffered a serious disaster, they'd pull their money
back home and markets around the world would collapse.
My B&H account won't be seeing much activity for a while.
Andrew Fildes
afildes@xxxxxxxxxxxxx
On 04/11/2008, at 1:38 AM, Dawid Loubser wrote:
> Yet, our currency has tumbled against the US dollar because all the
> investors are pulling money out
> of emerging markets, and pooling it back in the U.S. Very unfair,
> since our economic sector is so much
> healthier than the US or EU's!
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